“India has emerged as a symbol of resilience and progress”: PM Modi at Infinity Forum 2.0
India’s growth story is based on the government’s top priority to policy, PM Modi says
Highlighting India’s emergence as a symbol of resilience and progress, Prime Minister Narendra Modi has said that the country is a ray of hope for the world due to its strengthening economy.
Addressing the second edition of Infinity Forum, a global thought leadership platform on FinTech via video conferencing on Saturday (December 9, 2023), he quoted the World Bank and said, “Amid the global challenges, there are high hopes with the Indian Economy.”
Here are 10 key points made by Prime Minister Modi during his address:
1. India being a ray of hope for the world is a result of its strengthening economy and the transformative reforms of the past 10 years.
2. India will become the world's third-largest economy in the next few years and a developed country by 2047.
3. India’s growth rate during the first six months of the Fiscal Year has been 7.7 percent; India’s contribution to the global growth rate is 16 percent in the year 2023.
4. India’s growth story is based on the government’s top priority to policy, good governance and the welfare of the citizens.
5. India focused on long-term growth and economic capacity expansion at a time when the rest of the world focused on fiscal and monetary relief.
6. India is one of the fastest growing Fintech markets in the world today.
7. GIFT IFSCA is part of a larger reform to integrate Indian and global financial markets. GIFT City is envisioned as a dynamic ecosystem that will redefine the landscape of international finance.
8. GIFT City has the potential to become the Gateway to the Global FinTech World and a Fintech Laboratory for the world.
9. India is a country with deep democratic values and a historical tradition of trade and commerce.
10. Let us together explore and pursue innovative ideas to find solutions to the world's serious issues.
Prime Minister Modi also used the opportunity to draw attention to the monumental challenge of climate change and underlined India’s concerns, being one of the largest economies in the world. He informed about India’s commitment during the recent COP28 Summit and said that adequate availability of cost-effective finance must be ensured to achieve the global targets of India and the world.
The Prime Minister reiterated the need to understand the need for sustainable finance to ensure global growth and stability, which was one of the priority areas during the G20 presidency.
The 2nd Edition of Infinity Forum is being jointly organized by the International Financial Services Centres Authority (IFSCA), and GIFT City, under the aegis of the Government of India, as a precursor event to Vibrant Gujarat Global Summit 2024.
The forum provides a platform, where progressive ideas, pressing problems, and innovative technologies from across the world get discovered, discussed and developed into solutions and opportunities.
The theme of the 2nd edition of Infinity Forum is ‘GIFT-IFSC: Nerve Centre for New Age Global Financial Services’.